Tracker Rate Mortgage
Tracker mortgages are very popular, the way they work is like a discount rate mortgage but the difference being your mortgage rate stays the same distance apart from the Bank of England base rate. If the Bank of England base rate goes up by 0.25% so will your mortgage rate and if it falls by 0.5% so will your mortgage rate.
Example:
Bank of England Base Rate 4.0%
Your tracker rate is + 0.5%
That means your mortgage rate would be 4.5%
If the Bank of England rate fell by 0.5% then the Bank Base rate would be 3.5%
This would means your tracker mortgage rate would become 4.0%
All our advisors at MLM are trained to the highest standard possible to ensure they are able to find the best deal for your financial circumstances.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The information on this website is for the use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.
MLM Financial Ltd are appointed representatives of Openwork Limited who are authorised and regulated by the Financial Services Authority
Openwork Limited offers insurance and investment advice on products from a limited number of product providers and advice on mortgages representative of the whole market.
